Erik T. Hoffman


202.842.0125


Education

Georgetown University Law Center, JD, 1998

Virginia Polytechnic Institute and State University, BA (Political Science), 1993

Virginia Polytechnic Institute and State University, BS (Economics), 1993

Virginia Polytechnic Institute and State University, BS (Finance and Business Law), 1993


Erik Hoffman focuses on multifamily housing and economic development and represents for-profit and nonprofit developers.  Erik's practice includes acquisition-rehabilitation and new construction of apartment complexes and revitalization projects financed with fixed rate and "low floater" private activity bonds, tax increment financing, private loans and debt assumptions, Low-Income Housing Tax Credits, Historic Preservation Credits, New Markets Tax Credits, and other equity participations.  He often structures deals with multiple layers of funding, including mezzanine and subordinate debt from a variety of sources, such as private lenders, state pension funds, HOME and Community Development Block Grants, Section 108 securitizations, and local housing trust funds.  Erik has worked on portfolio acquisitions, bond debt assumptions, new money financings in public underwritings and private placements.

Before joining the firm, Erik was Counsel with the firm Bingham McCutchen, where he represented a wide variety of developers, underwriters, lenders, and syndicators on multifamily housing and economic development transactions.  Previously, Erik served as the Director of Real Estate Finance and Grants for Fairfax County's affordable housing and economic development programs.  In that role, Erik established and managed many of the financing programs the County uses to preserve and create affordable housing.  He was an Associate General Counsel to the District of Columbia Housing Finance Agency and worked on the agency's multifamily housing revenue bond transactions.  In addition, he was an associate with the firm of Hunton & Williams, where he served as outside counsel to the District of Columbia Revenue Bond Program on their 501(c)(3) financings, Enterprise Zone and Qualified Zone Academy Bond transactions.

BAR ADMISSIONS

  • District of Columbia
  • Virginia
  • Represented a for-profit housing developer in a mixed-income Northern Virginia development that was divided into two phases using a condominium-ground lease structure to maximize leveraging of 9% Low-Income Housing Tax Credits, taxable debt, and local subsidy funds in the second phase (the transaction was acknowledge by The Housing Report for its complexity)
  • Represented a for-profit housing developer on a 100% affordable housing property in Washington, DC, using tax-exempt bonds, FHA 221(d)(4) insurance, 4% housing tax credits, and Housing Production Trust Funds
  • Represented a for-profit housing developer on an affordable senior housing project in Prince George's County, MD, that included seven financing sources, including tax-exempt bonds and 4% Low-Income Housing Tax Credits, a Payment in Lieu of Taxation (PILOT), and HOME funding (transaction used as 2007 model by Housing Association of Nonprofit Developers seminar)
  • Represented a large regional developer in mixed-use, mixed-income project in Montgomery County that incorporated tax-exempt bond financing, self-syndicated housing tax credits, local subsidy funding, and a PILOT agreement
  • "All Aboard with Tax Increment Financing for Redevelopment of Tysons Corner," Washington D.C. Business Journal, October 26, 2007
  • "Affordable Housing and Unaffordable Taxes, Utilities, and Insurance, and Strategies to Keep them In Check," Bingham RE Reporter, 2007
  • "Enforceability of Lender and Investor Letters of Intent," Bingham RE Reporter, 2007
  • District of Columbia Bar Association, Real Estate, Housing and Land Use Section, Member
  • Virginia State Bar Association, Real Property Section, Member
  • Housing Association of Nonprofit Developers (HAND), Member of Board of Directors (2009-present)
  • New Hope Housing, Chair and Member of Board of Directors (2009)
  • Federal Reserve Bank of Richmond, Advisory Committee on the Future of Community Development in the Commonwealth of Virginia, Committee Member (2009)
  • Wesley Housing Development Corporation, a nonprofit housing developer in Northern Virginia, former Chairman of the Board of Directors
  • Falls Church Housing Commission, former Chair
  • Panelist, “Pitfalls and Potential of 9-4 Twinning to Stretch Limited Resources,” Virginia Housing Alliance, 4th Annual Housing Credit Conference – September 2016
  • Presenter, “Structuring Seller Take Back Financing with Tax Exempt Bonds and 4% Credits—Luring the Tax Averse Seller,” Virginia Housing Alliance, 4th Annual Housing Credit Conference – September 2016
  • Presenter, “9-4 Twinning Structures in DC, Maryland and Virginia” Housing Association of Nonprofit Developers at Silver Spring Civic Building - February 2016
  • Moderator, “The State of Our Tax Credit Union—the QAPs of Maryland, DC, and Virginia with Elaine Cornick, Oke Anyaebunam, and JD Bondurant,” HAND & VHDA - May 2016
  • Presenter, “The Good, Bad, and the Ugly of Twinning 9% Credits with Tax Exempt Bonds and 4%,” Virginia Housing Coalition Conference – September 2015
  • Presenter, “Negotiating Now to Plan for Year 15: Strategies for Nonprofit and For-profit Sponsors” HAND at Silver Spring Civic Center - May 2015
  • Moderator, “Equity Roundtable Sharktank-Nova,” Virginia Housing Credit Conference – September 2014
  • Panelist, “Planning and Executing a Year 15 Exit Strategy,” HAND – June 2014
  • Panelist, “Policy & Emerging Issues for the Low Income Housing Tax Credit (LIHTC)” moderated by Maryann Dillon, HAND – February 2014
  • Organizer, Sponsor and Moderator, "The Challenges to Financing Supportive Housing and Services," Community Services Board of Northern Virginia – May 2012
  • Sponsor and Moderator, two-day seminar on "Challenges to Financing Supportive Housing," Fairfax County, VA – 2012
  • Presenter, "15-Year Exit Strategies and Tax Credit and Legislative Updates," Housing Association of Nonprofit Developers (HAND), VHDA-sponsored Seminar – 2009, 2012
  • Moderator and Speaker, "Financing Affordable Housing with Recovery Act Funds" (2009); and "Innovative Structures to Finance Affordable Housing with Insufficient Gap Financing" (2011), Virginia Governor's Conference on Housing
  • Service-enriched Housing, Financing Services, and Job, Moderator and Organizing, Housing Association of Nonprofit Developers (HAND) and Coalition for Nonprofit Housing & Economic Development (CNHED), Washington, DC – 2011
  • Moderator and Presenter, "Affordable Housing Finance Assessment of Debt and Equity Markets," Affordable Housing Conference of Montgomery County – 2010
  • Panelist, "Unique Structures, Tax Credit Markets, and Special Needs Housing" moderated by Michael Bodaken, Maryland Affordable Housing Conference – 2009
  • HAND, Maryland Affordable Housing Conference, Joint Session and Training on Maryland Affordable Housing Opportunities – 2009
  • Panelist and Speaker, "Financing Affordable Housing and Other Uses for Tax-Exempt Bonds," Arlington Alliance for Housing Solutions, Lecky Forum – 2009
  • "Innovative Acquisition Structures for Multifamily Projects," National Association of Local Housing Finance Agencies, 2009 Spring Conference – 2009
  • Advisor, Arlington County's "Committee of 100" on considerations for establishing a redevelopment and housing authority – 2008
  • "Review of the 2008/2009 Changes to the Virginia, DC and Maryland Qualified Allocation Plans to Address the Federal Housing and Economic Recovery Act and the Challenges in the Equity Markets," HAND, 2008 Holiday Party and Roundtables – 2008
  • Presenter, "Creative Uses of Tax Increment Financing," National Association of Counties for Community Economic Development (NACCED), 2006 Annual Meeting – 2006
  • Recipient, International Academy of Lawyers' Award for Excellent in the Art of Advocacy for drafting community development bank and finance legislation adopted in New York State
  • Recognized by the Fairfax County Redevelopment and Housing Authority for designing a new multifamily housing financing program
  • Recipient, Fairfax Housing Award for pro bono services to the homeless
  • Recipient, Congressional Lyndon B. Johnson Award for work on Capitol Hill